Hotel Leela jumps 9 per cent on sale of property to Reliance

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Hotel Leela jumps 9 per cent on sale of property to Reliance
Shares of Hotel company, Hotel Leela jumped more then 9 per cent after the company said that it was selling its building at Chennai to Reliance for Rs 170.17 crores.

"With reference to the earlier announcement dated November 02, 2012 regarding approval of the Board of Directors to sell the Company's IT Park Building in Chennai, Hotel Leelaventure Ltd has now informed BSE that the Company has executed on February 18, 2013 an Agreement for Sale with Reliance Industries Limited to sell the above said property for a consideration of Rs. 170.17 crores," the company said in a statement to the BSE.

The shares of the company were last traded at Rs 26.85, up 9.67 per cent over Monday's close.

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